The Good: In order to give railways equal time, CP Rail results today were also very good considering the economic devastation that occurred during the quarter. CP Rail also relied on grain movement to partially offset the shortfall in other commodities. During the quarter, CP Rail moved 8.41 million tonnes of grain which was over 500,000 tonnes higher than the previous record quarter. With both railways moving record amounts of grain during the past two quarters, no wonder exports are finishing on a high note for this crop year. This is good news in what is turing out to be a bad news year.
The Bad: There was more rain in northern Alberta today which is adding to the excess moisture issues in the region. The month of July will go into the books as one of record or near record precipitation for the Peace River region and northern Alberta. The saying “rain makes grain” only works until there is too much.
The Ugly: A 7.8 magnitude earthquake occurred this morning off the coast of Alaska followed by a series of aftershocks.. There was a tsunami warning, but there was no wave that was generated by the earthquake. This marks the second major earthquake this spring and summer in the coastal areas of North America. The North American plate appears to be very active this year. Is the next stop BC or California in the earthquake events.